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BGC Group (BGC)
NASDAQ:BGC
Earnings Data
Report Date
May 06, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.39Last Year’s EPS
0.29Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a strongly positive operational and financial trajectory: record revenues and adjusted earnings, broad-based growth across asset classes and geographies, significant market share gains (notably FMX UST and Fenics), and ambitious 2026 guidance. Key risks and negatives include sizable one-time charges and elevated compensation/non-compensation expenses (partly due to acquisition activity and cost-savings execution), some reliance on acquisitions (OTC) for headline growth, currency headwinds, and timing/fee rolloffs for newer FMX futures products. On balance the highlights substantially outweigh the lowlights given the scale of record revenue, market-share gains, successful divestitures at attractive valuations, and robust forward guidance.Company Guidance
Record Revenue Growth (Q4 and Full Year 2025)
Fourth quarter revenues of $756.4M, up 32.2% year-over-year; full year 2025 revenues increased ~30% to nearly $3.0B (company said ‘approaching $3,000,000,000’).
Strong Adjusted Earnings and EPS Expansion
GAAP EPS grew 24% year-over-year and adjusted earnings grew 19% for the year; pretax adjusted earnings rose 24.5% to $161.3M in the quarter (pretax adjusted margin 21.3%); post-tax adjusted earnings increased 21.1% to $149.6M, adjusted EPS (quarter) $0.31.
Broad-Based Business Growth Across Asset Classes
Total brokerage revenues up 34.6% to $694.6M. Segment growth included ECS +92% to $257.5M (ex-OTC +10%), Rates +16.4% to $197.4M, FX +9.8% to $102.8M, Equities +29% to $72.7M, Credit +3% to $64.3M, and Data/Network/Post-Trade up ~14% (ex Capitalab).
Fenics and FMX Momentum
Fenics revenues rose 15.4% to $163.9M (Fenics Markets $136.7M, +15.1%). FMX UST ADV $58.7B (Q4 record), up >12% YoY and FMX UST market share ~39%–40% (Q4 record 39%, up from 30% a year ago). FMX futures ADV and open interest increased 8% and 297% QoQ respectively; FMX FX ADV +40% to $15.5B.
Product Adoption and New Growth Channels
Portfolio Match ADV grew 68% and is estimated to represent nearly 20% of the U.S. credit sweep market. Lucera revenues grew 24.1%, with expansion into additional fixed-income/connectivity products planned for 2026.
Acquisition and Market Position Gains
Acquisition of OTC contributed materially to growth and market share—company claims expanded market share, completed its second-largest acquisition, and became the world’s largest energy broker.
Balance Sheet and Liquidity
Liquidity increased to $979.1M at year-end 2025 from $897.8M a year earlier; fully diluted weighted average share count modestly decreased (~0.8%).
Cost Reduction Progress and 2026 Guidance
Completed first phase of cost reduction program to realize $25.0M of annualized savings in 2026. Company guided Q1 2026 revenues $860M–$920M (midpoint ≈34% growth) and pretax adjusted earnings $202M–$222M (midpoint >32% growth).
Strategic Divestitures Realizing Value
Sold KACE for up to $119M (noted as 28x post-tax profits) and sold other lower-growth Fenics businesses for combined proceeds near $165M, consistent with stated shareholder-value strategy.
BGC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
BGC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 12, 2026 | $8.71 | $9.50 | +9.07% |
Nov 06, 2025 | $9.10 | $9.09 | -0.11% |
Jul 31, 2025 | $9.68 | $9.23 | -4.63% |
May 07, 2025 | $9.43 | $9.25 | -1.90% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does BGC Group (BGC) report earnings?
BGC Group (BGC) is schdueled to report earning on May 06, 2026, Before Open (Confirmed).
What is BGC Group (BGC) earnings time?
BGC Group (BGC) earnings time is at May 06, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BGC EPS forecast?
BGC EPS forecast for the fiscal quarter 2026 (Q1) is 0.39.